When you are debt free, will you use credit cards again? If so, what for?

Dan2779

Once I am debt free, I wont need a credit card for emergancies, will hopefully have savings for that.
I may apply for a tesco credit card so I get extra clubcard points and pay for all my months petrol purchases but make sure I clear it each month!;)

cathybird

When I am debt free I'll keep one credit card account live but with a zero balance while I save the equivalent of three months' income in emergency cash. Then I will close that credit card and keep on saving money which I will invest. I don't ever want to have a credit card again. I haven't ever managed to use them properly (ie pay off the balance in full every month etc) and I don't see them as necessary any more. I really dislike the whole concept of them now.

Broken_hearted

Nope won't need one

Gemmzie

Yes, my store card because my collegue discount is attached to it - but have had that since last November and never paid a penny's interest :money:

And a card for car insurance to be paid off immediately from savings, because it's cheaper with alot of companies. Which the rest of the year will be an emergency if the car goes wrong card.

Toomuchdebt

I will keep one credit card once I am debt free-I plan to keep the Barclaycard simply because they have been very reasonable about reducing payments and freezing interest-in fact as soon as I rang and said I was having trouble they offered to do it.I will reduce the ridiculously high limit though to £1000(it's currently £7600) and I will be closing all my other accounts.I'll use it for emergencies such as car breakdowns etc but also try to pay if off as fast as I can.I may apply for a tesco credit card with a limit of say £200 to use for shopping and petrol as I understand you get clubcard points on those, but will pay it off every month in full.

carriel_2

A big fat definate NO from me, credit cards & me are not a good mix, the temptation would always be there in the back of my purse & I'd get just one takeaway, just one pair of shoes, just clothes shop for the kids & so on.....

Our credit cards were all cut up when we hit rock bottom.

We have managed to scrimp £300 into a savings account & we're adding to it about £20 -£25 per month, this is our emergency account. Once we are debt free we will throw alot more money into this.

mrs_mug_2

We won't have credit cards. 1 emergency leads to 'just put this tenner on there this month, pay it back next month' which leads to another tenner...a nice meal, another tenner.... etc etc. We have shown ourselves to have no self restraint with credit cards. For us it is all or nothing. So the damn things will be gone next year.

david_hellier

They are useful for scraping ice off the windscreen, spreading grout and mixing Araldite on.

dinkylou

I'm not debt free yet but use mine in the same way as I intend to when am debt free - for cashback

Last year I earnt £30 just for using a CC rather than by debit card. I have a DD to pay it off in full every month and I like the fact that I pay them nothing in interest and they pay me every year.